Pharmaceutical and Medical Device companies devote significant resources to ensuring that their products continuously meet quality standards and regulations. Many companies are trying to safeguard their supply chain and optimize Business Continuity preparations after observing the implications of several recent disasters. Consequently, key performance metrics around supply chain operations, sole-source suppliers, and future trends in contingency planning can help biopharmaceutical manufacturing leaders prioritize business objectives and responsibilities that will be most beneficial to growth and sustainability.

Best Practices, LLC conducted this study to assess how world-class companies optimize their Business Continuity preparations as well as how these organizations respond when faced with major disasters or operating disruptions. More specifically, the research is designed to help participating companies develop an evidence-based understanding of how other companies plan, prevent, prepare and respond to threats to their supply chains and operations.

The study includes two segments: a pharmaceutical/medical device segment and a total benchmark class segment. KEY TOPICS

Securing Your Supply Chain to Safeguard Customers and the Company

Working with Sole-Source or Strategic Suppliers

Performance Metrics

Creating a Business Resiliency Framework: The Next Generation

Current Trends and Future Directions For Contingency Planning

Lessons Learned: Key Opportunities To Support Continuous Business Continuity Improvement

SAMPLE KEY METRICS

Most effective approaches to help build a diverse supplier group to ensure supply chain resilience

Percentage of critical supplies, parts and raw materials that are single-sourced

Risk-mitigation actions taken to limit the risk associated with using a single source provider for critical supplies

Percentage of suppliers that hold some pre-determined level of inventory

Number of months of inventory reserves required for various vendors to maintain

Types of audits and analysis conducted to assess the suppliers' sustainability

Maintain Large Groups of Suppliers in Key Regions to Avoid Costly Shortages and Bad Press: Nearly all companies seek to maintain at least two suppliers in all critical supply areas. Over half of companies also require suppliers have facilities in different regions to further hedge against disruption risk.

The research is based on the insights of 33 Business Continuity (BC) leaders from 29 national and global health care organizations. In addition, selected executives provided qualitative insights through deep-dive interviews and “lessons learned” observations.

If you purchase Best Practice Database document(s), you will have 30 days from the date of purchase to apply some or all of the cost of the document(s) toward the cost of a Full Access Individual, Pharma, Group or University Membership. Write us at DatabaseTeam@bestpracticesllc.com or call Benjamin Gregory at 919-767-9160 if you have any questions.

Quality projects including Six Sigma are being applied to the supply chain and with success. With an emphasis on multi-national operations in manufacturing and financial services, this benchmarking p... (ID 4540)Companies Profiled: Bank of America, Damen Group, NT Philippines, Mayflower Vehicle Systems, more ...